IMF Staff Country Reports

This Selected Issues paper underscores broader issues of governance and the necessity for a comprehensive approach to bolster fiscal data governance in Solomon Islands. It lays out high-level policy recommendations and identifies specific technical assistance needs where IMF can support the improvement of fiscal reporting and data within the transparency framework for better integration of surveillance and capacity development. The International Public Sector Accounting Standards Board recommends that authorities responsible for presenting financial statements should maintain consistency in the presentation format used for budget reports. The precise delineation of Government Finance Statistics by government subsectors and the consolidated statistics are instrumental in setting effective goals and monitoring policy execution. The government should aim to recommence the release of quarterly and monthly budget outturns and to complete improvements in cash management and control by June 2025. As fiscal data has a critical role in sound policy planning and public communication, regular dissemination of fiscal and budget data will immensely enhance policy credibility and attract investors and donors.